The Graphite Electrode Market, boasting an impressive valuation of $11,983.77 million in 2022, is poised for robust growth with a notable compound annual growth rate (CAGR) of 8.3% throughout the forecast period. This surge is predominantly fueled by the escalating demand emanating from the steel industry, spurred by the transition towards electric arc furnace (EAF) steelmaking. The industry’s shift to EAF steelmaking, renowned for its energy efficiency and environmental sustainability, positions graphite electrodes as a pivotal component driving this remarkable growth trajectory.